From Bloomberg: The dollar may come under pressure as sovereign wealth funds resume investing in international assets and diversify out of commodity earnings denominated in the U.S. currency, according to UBS AG.
Such funds “tend to favor equities over bonds” and also increased allocations to emerging markets,” Mansoor Mohi-uddin, head of currency strategy in Singapore at UBS, wrote in an e- mailed note today. “Their return to prominence may hinder the dollar at the margin.”.........................................Full Article: Source